Canon Inc. Reports First-Half 2003 Results
Jul 31, 2003
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Canon Inc., a maker of imaging technologies, today announced first-half 2003 consolidated net sales of 1,535.6 billion yen (U.S. $ 12,797 million), which represents a year-over-year increase of 10.9 percent over the first half of fiscal year 2002.

Canon reported first half net income of 127.8 billion yen ($ 1,065 million), a significant increase of 74.5 percent over the same period last year and an earning per share of 145.55 yen ($ 1.21).

The company also reported second-quarter revenue of 804.0 billion yen ($ 6,700 million), 9.6-percent higher than second-quarter 2002 with net income of 56.2 billion yen ($ 468 million), which is 35.2-percent higher than second-quarter 2002.

"For the quarter, Canon posted sales and profits, which not only exceeded its results for the same period last year, but also its projection, continuing a trend set in the first-quarter," said Toshizo Tanaka, senior managing director and group executive for Finance and Accounting Headquarters. "As for second-quarter digital camera sales, we recorded significant growth of 74.5 percent on a year-on-year basis and also exceeded our projection. We are making steady advancement toward our goal of becoming number one in the world."

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